A Trustee’s Duties of Care Under the UPIA

4.6 (39)

Josh Yager, Esq., CFP, ChFC, CLU, Esq., CFP®, ChFC®, CLU®

Anodos Advisors

Friday, April 23, 2021 | 12:00 PM EDT

  • CPA
  • TEP

1 Credit

FREE

Subject Area

Specialized Knowledge

Webinar Qualifies For

1 CPE credit of Specialized Knowledge for all CPAs

1 CPD credit (Verifiable) for Trust and Estate Practitioners (TEPs)

1 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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Course Description

It’s hard to be a trustee and the number of CPAs being asked to serve as trustees is rising. Many CPAs wonder "What can I do to limit my personal risk as I serve in this fiduciary capacity?" 

A Trustee can reduce their personal risk by creating a governance plan which demonstrates they have fulfilled each of their duties of care. Developing a record that these policies and procedures have been fulfilled demonstrates the trustee has acted prudently and in good faith which is a prerequisite to qualify for the exculpation clause of the state statute. This online CPE trust webinar compliance library will demonstrate that the trustee has fulfilled their duties of care.

This online CPE webinar for CPAs discusses the Trustee’s Duties of Care under the Uniform Prudent Investor Act (UPIA): 

  • Fiduciary Governance Best Practices
  • Duty to prudently administer the trust.
  • Duty to establish return objectives.
  • Duty to establish risk expectations.
  • Duty to Investigate conflicts of interest.
  • Duty to Diversify the trust assets. 
  • Duty to pay only fair fees.
  • Duty to prudently select and delegate investment functions.
  • Duty to independently monitor.

Learning Objectives

  • To review fiduciary duties of care under Uniform Prudent Investor Act.
  • To identify the elements of a Fiduciary Governance process.
  • To outline the work product to be included in a trustee’s compliance library for each duty of care.

Who Should Attend?

  • Certified Public Accountant
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Young CPA

Testimonial

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(
    [no_of_record] => 39
    [average] => 4.6154
)
 

4.6

(39)
64%
33%
3%
0%
0%

WK

none noted

MG

Another well-run CPE course from myCPE. The topics offered are interesting and relevant to the current financial and tax environment.

FA

Very good presentation